Nov 1, 2023
Stepping into the investment realm can often feel like navigating through a storm, with market values rising and falling unpredictably. However, there's a savvy, strategic investment technique that could be your anchor amidst this turbulence - Dollar Cost Averaging (DCA). It's a simple "set it and forget it" tool, aimed at growing your portfolio and wealth with minimal hassle.
Let's dive into a real-world scenario.
Suppose you decided to invest $1,000 in Bitcoin on June 20, 2023. Your investment would have netted you approximately 0.0356 BTC. However, had you chosen to purchase $100 worth of Bitcoin every month for the past 10 months, you would now be holding roughly 0.0456 BTC, with the total value of your investment standing at a more appealing $1,280.51!
Here's a brief breakdown of how this strategy would have played out:
On September 19, 2022, with Bitcoin priced at $19,570.39, your $100 would have bought 0.00510976 BTC.
Fast forward to February 18, 2023, Bitcoin's price has soared to $24,642.79, yet your consistent monthly investment of $100 now acquires 0.00405798 BTC.
Come June 20, 2023, with Bitcoin at $28,073.67, your $100 gets you 0.00356206 BTC.
With each passing month, irrespective of the price swings, your Bitcoin accumulation steadily grows, showcasing the power of a disciplined, consistent investment approach.
Now, how can Metal Pay assist in harnessing this savvy investment technique? Enter Metal Pay's Automatic Buys feature—a tool designed to effortlessly implement a dollar cost averaging strategy. It's a breeze to set up. Simply pick your preferred coin, hit 'BUY', and switch from "one-time purchase" to your desired recurrence option—daily, weekly, or monthly. And voila! You've just set in motion a mechanism to gradually build your portfolio over time.
Metal Pay's Automatic Buys feature demystifies the investment process, making it accessible to both new and seasoned investors. By automating your cryptocurrency purchases, you not only lessen the emotional strain often associated with market fluctuations but also set a solid foundation for potential financial growth. So, why wait? Set up your Automatic Buys on Metal Pay, sit back, and watch your portfolio evolve.